Shares of ZoomInfo fell sharply in late buying and selling Monday, after the database data supplier to its company gross sales and advertising groups minimize its full-year monetary steerage. The corporate’s press launch provided no clarification for the extra modest expectations.
In late buying and selling, ZoomInfo was down 18%, at $21.
For the second quarter, ZoomInfo (inventory ticker: ZI) reported income of $308.6 million, up 16% from a yr in the past, however just under the Wall Road consensus of $310.9 million. Adjusted earnings had been 26 cents a share, above the consensus of 23 cents. Beneath typically accepted accounting rules, the corporate earned 9 cents a share.
“We delivered one other quarter of income development, elevated profitability, and free money circulate technology,” CEO Henry Schock stated in an announcement.
For the September quarter, ZoomInfo expects income of $309 million to $312 million, with adjusted earnings of 24 to 25 cents per share; The analyst consensus had referred to as for income of $325.8 million and 25 cents.
ZoomInfo additionally lowered its steerage for the total yr. The vary for brand spanking new income steerage is $1.225 billion to $1.235 billion, down from a earlier forecast of $1.275 billion to $1.285 billion.
ZoomInfo stated it now sees GAAP-free money circulate of $445 million to $455 million, down from a earlier forecast of $507 million to $517 million. The corporate’s new non-GAAP EPS forecast is 99 cents to $1 per share, narrowing the vary from the earlier forecast of 99 cents to $1.01 per share.
The corporate additionally introduced a $500 million enlargement of its share repurchase program.
Write to Eric J. Savitz at [email protected]